IND AS 37: Provision, Contingent Liabilities and Contingent Assets
IND AS 37 has been applied in accounting for provisions, contingent liabilities & contingent
assets.
A Provision shall be recognized only when:
An entity has a present obligation due to past events;
It is probable that an outflow of resources embodying economic benefits will be an outflow of
resources embodying economic benefits will be required to settle the obligation, and
A reliable estimate can be made of the amount of obligation. If these conditions are not met, no
provision shall be recognized.
A contingent liability is disclosed, as required by paragraph 86, unless the possibility of an
outflow of resources embounding economic benefit is remote.
IND AS 108: Operating Segment
Since the Company has only one segment of business. Therefore, the segment reporting is not
applicable.
IND AS 109: Financial Instruments
The company classifies its financial assets in the following measurement categories:
i. Those to be measured subsequently at fair value (either through other Comprehensive
Income, or through profit or loss)
ii. Those measured at amortised cost
The classification depends on the business model of the entity for managing financial assets and
the contractual terms of the cash flows.
For assets measured at fair value, gains and losses will either be recorded in profit or loss or
other Comprehensive income for investments in debt instruments, this will depend on the
business model in which the investment is held. For investments in equity instruments, this will
depend on whether the Company has made an irrevocable election at the time of initial
recognition to account for the equity investment at fair value through Other Comprehensive
Income.
Subsequent Measurement:
After initial recognition, financial assets are measured at:
i. Fair value (either through other Comprehensive Income (FVOCI) or through profit or loss
(FVPL) or,
ii. Amortised cost
The company subsequently measures all investment in equity instruments at fair value. The
management of the company has elected to present fair value gains or losses on such equity
investment in Profit and loss. Dividends from such investments are recognized, as and when right
to receive is established. Impairment losses (and reversal of impairment losses) on equity
instruments measured at FVTPL (Fair Value Through Profit and Loss) are not reported separately
from other changes in fair value.
IND AS 113: Fair Value Measurement
The objective of a fair value measurement is to estimate the price at which an orderly transaction
to sell or to transfer the liability would take place between market participants at the
measurement date under current market conditions. A fair value measurement requires an entity
to determine all the following:
a) The particular asset or liability that is the subject of the measurement (consistently with its
unit of account)
b) For a non-financial asset, the valuation premise that is appropriate for the measurement
(consistently with its highest and best use).
c) The principal (or most advantageous) market for the asset or liability.
d) The valuation technique (s) appropriate for the measurement, considering the availability
of data to develop input that represent the assumptions that market participants would
use when pricing the asset or liability and the level of the fair value hierarchy within
which the inputs are categorised.
This IND AS defines fair value as the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the measurement
date.
IND AS 115: Revenue from contract with customers
Revenue is the gross inflow of economic benefits during the period arising in the course of the
ordinary activities of an entity when those inflows result in increases in equity, other than
increases relating to contribution from equity participants.
Revenue is recognised only when it is probable the economic benefits associated with the
transaction will flow to the entity.
Consultancy income is recognized in accordance with the terms of Agreement and when
collectability is certain and the performance criteria are met.
Interest income is recognized on a time proportion basis using the effective interest rate method.
Capital gain is recognized at the time of sale of Investment.
Exclusion from the definition of revenue is:
• Amount collected on behalf of third parties, viz, sales tax, goods and services tax: These
are not economic benefits that will flow to the entity and do not result in equity.
• In agency relationship, amounts collected on behalf of principal.
Entity recognizes revenue on accrual basis, except for dividend which is recognized as and when
right to receive payment is established.
ROC Fees Payable:
The company has increased its authorized capital during the financial year 1996-97 and 1998-99
from Rs. 25 Crore to Rs. 55 Crore and Rs. 55 Crore to Rs. 300 Crore respectively. The fee for
increase in capital has not been deposited in these years. Registrar of Companies, Delhi &
Haryana filed the recovery case.
The company has earlier accepted Rs. 2, 76, 48,420/- and accordingly provided this amount as
payable. The Company has filed writ petition with Hon’ High court of Delhi and revised fees
payable has been ascertained Rs. 6,35,49,170 difference of Rs. 3,59,00,750 has been shown as
increased to the existing liabilities during the year. Whereas ROC has not quantified the amount.
The Company has deposited Rs. 3, 70, 00,000.00 With the Honorable Delhi High Court against
the case filled by the ROC.
Other Regulatory Requirements
• The Company does not Have Any Immovable Property.
• There is no any Proceeding have been initiated or pending on or against of the company
or holding any benami Property under the Benami Transaction (Prohibition) Act, 1988
(section 45 of 1988) and the rules made thereunder.
• Company does not have any borrowing from the bank or financial institution on the basis
of security of current assets.
• Since the company does not have any loan from bank or financial institution or other
lender hence cannot be declared a wilful defaulter by bank or financial institution.
• There are no transactions with "the Companies struck off under section 248 of the
companies Act 2013 or Section" 560 of Companies Act 1956.
• There is no any charge or Satisfaction yet to be registered with the Registrar of the
companies beyond the statutory period.
• The Company is not covered Under Section 135 of the Companies Act 2013 hence This
Clause in Not Applicable to the Company.
• Company has not traded or invested in crypto Currency or Virtual Currency during the
financial Year.
Other than in the normal and ordinary course of business there are no funds that have been
advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other persons or entities, including
foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or
otherwise, that the Intermediary shall directly or indirectly lend or invest in other persons or
entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the
Company; or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
There have been no funds that have been received by the Company from any persons or
entities, including foreign entities (“Funding Parties”), with the understanding, whether recorded
in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on
behalf of the Funding Party or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries
The figures of the previous year have been regrouped /recast wherever necessary to correspond
with current year figures.
Note 1 to 20 forms an integral part of the accounts for the year ended March 31, 2025.
As per our audit report of even date attached
For R C CHADDA & CO LLP For & On behalf of Board of Directors
Chartered Accountants
FRN: 003151N
Sd/- Sd/- Sd/-
BHISHM MADAN Vijay Pal Shukla Pawan Sharma
(Partner) (Managing Director) (Director)
Membership No. 524462 DIN-01379220 DIN-10774235
Sd/- Sd/-
Place: New Delhi Geetika Sehgal Deepak Kumar Chauhan
Date: - 26th May, 2025 (Company Secretary) (CFO)
UDIN - 25524462BMIJLN3187
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